Limited Company

At the end of a financial year all limited companies have a legal requirement to file annual accounts known as ‘statutory accounts’ with Companies House, and also have the responsibility to send tax returns to HMRC.

This can be a complex process and it is important to ensure you file by the required deadlines. We can help you determine whether your accounts and tax will need to be filed at different times or can be filed at the same time.

There are also two types of accountancy standards your statutory accounts must meet, which is either the UK Generally Accepted Accounting Practice or the International Financial Reporting Standards. We will help you determine which is relevant to your business now or in the future.

We can help you with the preparation of your annual accounts, which includes;

• A balance sheet that shows the value of your company’s assets and credits owed on the final day of your financial year.
• A profit and loss account that shows your company’s profit and loss including sales, running costs over the past financial year.

We can also help advise you on details you will need for notes about your accounts and your director’s report that must be submitted with your final accounts.

You may find you need expert help if you registered your business with Companies House but your business remained or remains ‘dormant’.

If you began trading after your company was set up we can help;

• If you registered for Corporation Tax before your accounting reference date.
• If you did not​ register for Corporation Tax before your accounting reference date.

Using our services will mean that you don’t end up paying too much tax.